SEOUL : South Korea's central bank said on Wednesday it saw little possibility of the country encountering a banking crisis or any trouble similar to events in the U.S. and Europe earlier this year. Even another banking crisis on a global scale was unlikely to cause sudden capital flight out of the countr
SEOUL : South Korea's central bank said on Wednesday it saw little possibility of the country encountering a banking crisis or any trouble similar to events in the U.S. and Europe earlier this year.
"Assessment of our financial system's underlying risks shows there is low possibility of domestic financial institutions going through a similar circumstance to that of Silicon Valley Bank or Credit Suisse," the BOK said. Earlier this year, a series of bank troubles in the United States and Europe sparked worries about a financial crisis across global financial markets, triggering central banks' prompt responses to contain them from developing into contagion.
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